Reliance Industries Approves 1:1 Bonus Share Issue - First in 7 Years
Reliance Industries board has approved a 1:1 bonus share issue, marking the first such move in seven years. The company's authorized share capital will also increase.
New Delhi, Sep 5 (PTI) The board of Reliance Industries Ltd on Thursday approved issuing 1:1 bonus shares -- the first bonus issue in seven years.
Reliance, the nation's most valuable company, had last issued bonus shares in September 2017.
In a regulatory filing, the company said its board recommended to shareholders for their approval "issue of bonus shares in the ratio of 1:1 ie 1 (one) new fully paid-up equity share of Rs 10 each for every 1 (one) existing full paid-up equity share".
The record date for such issuances will be intimated separately, it said.
Prior to the 1:1 bonus issue in 2017, Reliance had in 2009 issued 1:1 bonus share.
The company board also approved and sought shareholder nod for increase in authorised share capital of the company from Rs 15,000 crore to Rs 50,000 crore.
Reliance, the nation's most valuable company, had last issued bonus shares in September 2017.
In a regulatory filing, the company said its board recommended to shareholders for their approval "issue of bonus shares in the ratio of 1:1 ie 1 (one) new fully paid-up equity share of Rs 10 each for every 1 (one) existing full paid-up equity share".
The record date for such issuances will be intimated separately, it said.
Prior to the 1:1 bonus issue in 2017, Reliance had in 2009 issued 1:1 bonus share.
The company board also approved and sought shareholder nod for increase in authorised share capital of the company from Rs 15,000 crore to Rs 50,000 crore.
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